Americans Spend More on Taxes Than Food, Clothing, Housing -- Combined

[petch751]

Originally Posted by hawaiian by heart View Post
Once again its whatever the taxrate is for corporate and whatever tax bracket there in. Paying it is there fair share not finding every loophole so they don't pay anything like some corporations do.

Until you learn tax code you will always be poor and politicians will play you (LIE TO YOU) like Obama did. FOOL. Read below. Just one example of deductions phased out for high income people.

Originally Posted by InformedConsent

Again, the vast majority of loopholes are used by the low-income and middle class. Many tax deductions phase out at higher income levels. And the Alternative Minimum Tax also applies..

Taxpayers are allowed to deduct personal exemptions of $3,900 for themselves, their spouses and their dependents. In addition, taxpayers are allowed a standard deduction or, if their deductions are large, they can itemize their deductions.

Beginning in 2013, both the personal exemptions and itemized deductions for higher income taxpayers are phased out.

Higher Income Taxpayers Hit with Exemption & Itemized Deductions Phase-out | Schultz & Crouse, P.C. | Certified Public Accountants

[Driller1]

Originally Posted by Huckleberry3911948

Rich government officials have big salaries the taxes pay those salaries

Many are will below comparable jobs in the private sector.

Heck.....even Obama claimed a loss on his 2012, 1040.

They rolled it over to 2013......that form was not public the last thing I looked...it will be.

[hawaiian by heart]

Originally Posted by greywar

So if we cut the handouts to the poor you can't complain about the rioting, and starvation that would result?

I think underlying this is the fairly accurate observation by most that while their parents or grandparents shared in the growing wealth of the nation as a whole, thats no longer true for them. That while corporate profits are at a all time high, the share paid to the people doing the work is at a fairly low % of the income coming in.

And then the viewpoints of "greed is good" and "the poor deserve it" kinda...bothers people.

Idk is it me? Or do these people appear to be justifing one form of laziness and not another? Not trying to be rude honest. But is it me? or does it sound like classism to me? I don't mind admitting im wrong if i am been wrong about things before.

[hawaiian by heart]

You know we have been overlooking something. First our population is almost 3x it was in the 40s. Current population is 317 Million, our unemployment rate is 6.7% thats 21,407,226 people who just cant find work.

In 1940s our population was 132,164,568 people, our unemployment rate was 14.6. that was 19,296,027 who couldn't find work.

What was interesting was in that year we were 120% over the GOP.

What is almost interesting is On Jan. 20, 2009, the date of Obama's inauguration, the debt held by the public stood at roughly $6.307 trillion, according to the Treasury Department’s "Debt to the Penny" calculator. The total debt, or gross federal debt, was about $10.627 trillion.

So, since Obama took office, debt held by the public increased by about $5.815 trillion, and total debt increased by about $6.451 trillion.

In this case, Obama doesn’t deserve full "blame" for the debt growth on his watch, since about two-thirds of the annual deficit during his term has been from

Continued next post.

[hawaiian by heart]

Continued from last post.

Entitlements and interest. Entitlements, such as Social Security and Medicare, are less susceptible to a president’s policy preferences than discretionary spending that Congress must approve on an annual basis. Entitlements are also more heavily driven by demographic factors, such as the aging of the population, which is also out of any president’s control. Meanwhile, a sizable share of the interest being paid today is paying off debts accumulated under previous presidents.

What also is interesting is both bush and obama are wartime presdents. During past wars the national debt soared too. Further we also need to take into account that the population level has increased almost 3x since 1940. So there is going to be more need for public services. Also we need to take a look at the value of the dollar today. Back then the dollar was almost worth 30x that it is today and factor in the huge population increase and paying far fewer taxes. Its safe to see why we are in trouble.

[nightcrawler]

our salaries are taxed, then anything we buy is taxed then we pay tax at the end of the year.

free country. thats a joke

[Driller1]

Originally Posted by nightcrawler

our salaries are taxed, then anything we buy is taxed then we pay tax at the end of the year.

free country. thats a joke

Now, now...don't ya know Harry Reid said taxes are voluntary???